Consider this simple market for almonds. Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts. These droughts only directly affect one curve. What effect would that curve shifting have on equilibrium in this market?

Consider this simple market for almonds. Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts. These droughts only directly affect one curve. What effect would that curve shifting have on equilibrium in this market?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 16AA

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